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the deficit isn't the product of spending. the economic down turn has left americans making less money in terms of spending. >> we spend each year more than we brought in. >> spending and revenue. our revenue has decreased and american -- >> i got to go. >> i got to go. >> spending budgets they have gone up under president obama and have held at $3.5 billion each year. >> i got to go. we can continue it another time. >> but it is also economic growth which it self might be a function of taxes and spending. if this economy were growing, you would have a substantially lower budget deficit. gentlemen we will welcome you back another time. >> there is at least one state in the northeast that gets it. natural gas shale and it is pennsylvania and the republican governor tom corebet is about to join us. he picks up support from chuck schumer who didn't get an apology for the anti-israel statements. if we were growing at 5% instead of 2% we would be close to a balanced budget today. i'm kudlow we will be right back. at 1:45, the aflac
the deficit isn't the product of spending. the economic down turn has left americans making less money in terms of spending. >> we spend each year more than we brought in. >> spending and revenue. our revenue has decreased and american -- >> i got to go. >> i got to go. >> spending budgets they have gone up under president obama and have held at $3.5 billion each year. >> i got to go. we can continue it another time. >> but it is also economic growth...
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Jan 13, 2013
01/13
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we have no sustainable deficit. you say on the order of 3% of gdp, we make tough choices to identify more than a trillion dollars in savings. two-thirds from spending reductions. where does the other third come from? as i understand it, it is from tax increases, is it not? >> i'm happy to answer all questions. >> just the last one. >> the net savings come from a lot of provisions but a lot of it comes from the provision that would pay for the alternative minimum tax. that would reduce -- >> a significant portion does come from tax increases. >> a third. >> you have a statement about federal-billion pay freeze. i find this to be terribly disingenuous. when barack obama took office to now, we have 145,000 additional federal workers. to suggest pay has been frozen is not an accurate statement. their increases and bonuses and others, we've dramatically increased the federal payroll. the budget being proposed, when you say pay freeze, does that mean expenditures on payroll will go up or stay the same? >> it means people
we have no sustainable deficit. you say on the order of 3% of gdp, we make tough choices to identify more than a trillion dollars in savings. two-thirds from spending reductions. where does the other third come from? as i understand it, it is from tax increases, is it not? >> i'm happy to answer all questions. >> just the last one. >> the net savings come from a lot of provisions but a lot of it comes from the provision that would pay for the alternative minimum tax. that...
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Jan 14, 2013
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the deficit. there has probably been more pain and drama in getting there than we needed. so finishing the job shouldn't be that difficult if everybody comes to the conversation with an open mind and if we recognize that there's some things like not paying our bills that should be out of bounds. all right? i'm going to take one last question. jackie colmes. >> mr. president. >> yeah. >> i like to ask you, now that you reached the end of your first term, starting your second, about a couple of critsims. one longstanding, another more recent. the longstanding one seems to become a truism of sorts that you and your staff are too insular. that you don't socialize enough. and the second, more recent criticism that your team taking shape knit diverse, isn't as diverse as it could be or even was in terms of getting additional voices, gender, race, ethnic diversity. i would like you to address both of those. >> let me take the second one first. you know, i'm very proud in the first four years we had as di
the deficit. there has probably been more pain and drama in getting there than we needed. so finishing the job shouldn't be that difficult if everybody comes to the conversation with an open mind and if we recognize that there's some things like not paying our bills that should be out of bounds. all right? i'm going to take one last question. jackie colmes. >> mr. president. >> yeah. >> i like to ask you, now that you reached the end of your first term, starting your second,...
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Jan 15, 2013
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melissa: we're adding trillions every year to our deficit. what do you think, stephen, does that get us there? >> 1.2 trillion is this year's deficit. that doesn't solve the long-term problem. the thing we haven't had from this president in my view is serious proposal for structural entitlement reform on the order of something like the ryan budget that republicans offered. took a lot of grief for. something that would change the trajectory of our debt. things we've had from this president wouldn't do that. they might take a chunk here, take a chunk there but they don't change the overall debt picture and certainly don't change the trajectory. melissa: stephen, susan, stick around. we have a lot more on the other side of this break. like ben bernanke saying time to ditch the debt ceiling all together. is it as silly as he says it is? we'll debate that. more "money" ahead what are you doing? nothing. are you stealing our daughter's school supplies and taking them to work? no, i was just looking for my stapler and my... this thing. i save money
melissa: we're adding trillions every year to our deficit. what do you think, stephen, does that get us there? >> 1.2 trillion is this year's deficit. that doesn't solve the long-term problem. the thing we haven't had from this president in my view is serious proposal for structural entitlement reform on the order of something like the ryan budget that republicans offered. took a lot of grief for. something that would change the trajectory of our debt. things we've had from this president...
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Jan 14, 2013
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. >> megyn: and my last question for you quickly he's put in place, 3.25 in place of deficit reduction, a little short of 4 trillion we need, but he would have the american public believe he's significantly reduced our deficit as president. >> which makes you wonder why we need another 2 trillion dollars so desperately now as we are getting ready for the beginning of his second term. obviously, that's 2 1/2 trillion that is, well, fanciful in my opinion and ethereal in others and it's not a reduction in baseline, it's a reduction in the rate of growth of spending, which is again suffocating to the private economy and unsustainable over the course of the next several years. >> megyn: one thing we did hear the president reference personally, we heard it from nancy pelosi prior, but the president personally talking about now closing more loopholes and that means higher taxes. we don't know on who, but he would not specify any specific spending reductions and refusing to negotiate with the house republicans on the issue of the debt ceiling. lou, an interesting couple of months. looking for
. >> megyn: and my last question for you quickly he's put in place, 3.25 in place of deficit reduction, a little short of 4 trillion we need, but he would have the american public believe he's significantly reduced our deficit as president. >> which makes you wonder why we need another 2 trillion dollars so desperately now as we are getting ready for the beginning of his second term. obviously, that's 2 1/2 trillion that is, well, fanciful in my opinion and ethereal in others and...
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Jan 14, 2013
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we just looked at some of the president's numbers op deficit reduction. we'll talk about his news cop france today on that topic and the debt ceiling with the fox all-stars when we come back. [ ship horn blows ] no, no, no! stop! humans. one day we're coming up with the theory of relativity, the next... not so much. but that's okay -- you're covered with great ideas like optional better car replacement from liberty mutual insurance. total your car and we give you the money to buy one a model year newer. learn about it at libertymutual.com. liberty mutual insurance. responsibility. what's your policy? >>> the issue here is whether or not america pays its bills. we are not a deadbeat nation. if congressial republicans refuse to pay america's bills op time, social security checks and veteran benefits will be delayed. we might not be able to pay our troops, or honor contracts with the small business owners. food inspeckors, air traffic controllers. specialist wos track down loose nuclear teles wouldn't get their paychecks. invesors around the world will ask i
we just looked at some of the president's numbers op deficit reduction. we'll talk about his news cop france today on that topic and the debt ceiling with the fox all-stars when we come back. [ ship horn blows ] no, no, no! stop! humans. one day we're coming up with the theory of relativity, the next... not so much. but that's okay -- you're covered with great ideas like optional better car replacement from liberty mutual insurance. total your car and we give you the money to buy one a model...
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Jan 13, 2013
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. >> one of the scandal is not the deficits, but the fact that federal government collects 2.5 trillion. with the consumption or sales tax, this is the lone way we can limit how much money gets to the federal government and more businesses would be created and jobs and the federal government would not be penalizing our work and we would get more work and jobs. >> sounds good to me, rick, to you? >> here's the problem. i will not touch incredibly regressive nature of this. >> by regressive, it hits the poor more than the rich? >> exactly. put the brakes on a economy, imagine what happens here. first of all, to keep the revenue neutral, you are looking at a 20r 30 percent sales tax . add that to the state tax that governor gindale wants to add. no one will be able to afford it or go shopping. >> steve, this is a country of experiment ground . the states experiment with things that might do better. >> there are 9 states who don't have a personal income tax. you compare the state of vermont with the state of new hampshire. new hampshire has no sales tax or personal income tax and does bette
. >> one of the scandal is not the deficits, but the fact that federal government collects 2.5 trillion. with the consumption or sales tax, this is the lone way we can limit how much money gets to the federal government and more businesses would be created and jobs and the federal government would not be penalizing our work and we would get more work and jobs. >> sounds good to me, rick, to you? >> here's the problem. i will not touch incredibly regressive nature of this....
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Jan 14, 2013
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if the issue is deficit reduction, getting our deficits sustainable, over time, getting our debt in a sustainable place, then, democrats and republicans in congress will have a partner with me. we can achieve that, and we can achieve it fairly quickly. i mean we know what the numbers are. we know what needs to be done. we know what a balanced approach would take and we've already done probably more than half of the deficit reduction we need to stabilize the debt and the deficit. there's probably been more pain and drama in getting there than we needed. and so finishing the job shouldn't be that difficult. if everybody comes to the conversation with an open mind, and if we recognize that there's some things like not paying our bills that should be out of bounds. i'm going to take one last question. jackie. >> i'd like to ask you, now that you've reached the end of your first term, starting your second, about a couple of criticisms. one that's longstanding, another more recent. the long-standing one seems to have become a truism of sorts that you and your staff are too insular, that you
if the issue is deficit reduction, getting our deficits sustainable, over time, getting our debt in a sustainable place, then, democrats and republicans in congress will have a partner with me. we can achieve that, and we can achieve it fairly quickly. i mean we know what the numbers are. we know what needs to be done. we know what a balanced approach would take and we've already done probably more than half of the deficit reduction we need to stabilize the debt and the deficit. there's...
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current account deficit balloons is the u.k. heading for a currency crisis asks jeremy warner in the telegraph and he goes over the usual things of the deficit and all the debt they have but he knows that north sea oil has helped the u.k. economy avoid what would otherwise have been brutally imposed market reform in adjustment as recently as two thousand and one britain enjoyed a trade surplus in crude oil of nearly six billion pounds a year in two thousand and eleven the deficit was ten point seven billion pounds like a receding tide fast depleting north sea oil is exposing the underlying wreckage of the u.k. economy well gerry warner makes an excellent point now and economy has two components in its export market they've got the exploitation of services or they've got the exploitation of goods manufactured goods in britain has not exported had a net balance of exportation of manufactured goods since the nineteen eighties the entire economy sense that your has been built on basically services and what are these services they ar
current account deficit balloons is the u.k. heading for a currency crisis asks jeremy warner in the telegraph and he goes over the usual things of the deficit and all the debt they have but he knows that north sea oil has helped the u.k. economy avoid what would otherwise have been brutally imposed market reform in adjustment as recently as two thousand and one britain enjoyed a trade surplus in crude oil of nearly six billion pounds a year in two thousand and eleven the deficit was ten point...
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Jan 14, 2013
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the deficit. is that really the objective? the concern is we are spending more than we take in. that is the case, there is a way of balancing that so that we take in more money, increasing revenue, and we reduce spending. there is a recipe for getting that done. in the conversation i had was speaker boehner by the end of the year, we became pretty close, a few hundred dollars -- a few hundred billion separating us. it seems as though what is motivating this from the house republicans is more than debt reduction. they have a vision about what government should and should not do. they are suspicious about government policy commitment to make sure that seniors have decent health care as they grow older. they have suspicions about social security. they have suspicions about whether government should make sure that kids in poverty are getting enough to eat or whether we should be spending money on medical research. they have a particular view about what government should do and should be. that deal was
the deficit. is that really the objective? the concern is we are spending more than we take in. that is the case, there is a way of balancing that so that we take in more money, increasing revenue, and we reduce spending. there is a recipe for getting that done. in the conversation i had was speaker boehner by the end of the year, we became pretty close, a few hundred dollars -- a few hundred billion separating us. it seems as though what is motivating this from the house republicans is more...
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Jan 15, 2013
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assume we all want to reduce our deficits and reduce the amount of debt. do we want to do that by cutting social security and medicare and taking these entitlements and the safety net and fundamentally changing it or do we want more cash from individuals and from companies and whether you do that through higher rates or tax reform or getting rid of deductions, you know, that's a debate worth having and i think one that democrats can be in a pretty decent position to win if they talk about it in the right way. >> dan gross, thanks for coming. >> thank you. >>> next, developing news this afternoon on the latest sandy aid bill before congress. a house vote is expected tonight but there's plenty of opposition and maybe for good reason. we're spinning as "the cycle" rolls on for tuesday, january 15th. hey sis, it's so great to see you. you, too! oh, cloudy glasses. you didn't have to come over! actually, honey, i think i did... oh? you did? whoa, ladies, easy. hi. cascade kitchen counselor. we can help avoid this with cascade complete pacs. see, over time, casc
assume we all want to reduce our deficits and reduce the amount of debt. do we want to do that by cutting social security and medicare and taking these entitlements and the safety net and fundamentally changing it or do we want more cash from individuals and from companies and whether you do that through higher rates or tax reform or getting rid of deductions, you know, that's a debate worth having and i think one that democrats can be in a pretty decent position to win if they talk about it in...
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for failing to keep old promises to end wars and the nation's involvement there and also to cut the deficit in the u.s. and shut down the guantanamo bay detention center but aren't you going to if you can reports there are even more pledges he's not addressed. it's generally thought that a second term six u.s. presidents free walks those handcuffs that kept them from doing great things in their first term because they had to think about getting reelected all the time in the last four years we've heard many times president obama's hands are tied on this issue word that issue suppose this election has on tied his hands we don't have a crystal ball to tell you what he's going to do with those three presidential hands but we may already see signs of what is to come president obama steps into his second term carrying a heavy load of promises along with the pledge the threat of another devastating war in the middle east for four years president obama pushed through a great extent by israel. war with iran i will take no options off the tape and what i see. some believe the appointment of chuck hag
for failing to keep old promises to end wars and the nation's involvement there and also to cut the deficit in the u.s. and shut down the guantanamo bay detention center but aren't you going to if you can reports there are even more pledges he's not addressed. it's generally thought that a second term six u.s. presidents free walks those handcuffs that kept them from doing great things in their first term because they had to think about getting reelected all the time in the last four years...
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Jan 21, 2013
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he went on at a time of deficits being front and center to talk about debt and deficits on capitol hill. he was very aggressive defending entitlement such as social security and medicare and medicaid. in this address, the president signals he believes he has a mandate. he will be aggressive about pushing change in the second term. >>shepard: some of the change, can you make the argument it could happen? republicans are coming around on immigration issues. the polls suggest gay rights issue is taking a turn, as well, right? >>reporter: no question. he was able to pass the health care bill in the first term. the second term, in part, will be about implementing that law that republicans opposed but, obviously, chief justice roberts was the justice that helped decide that, in fact, it is the law of the land. the president, we should note, suggested he is going to reach out to republicans. he started the day at st. john's church across lafayette park, a little prayer service, and the pastor talked about how the pastor in chief in recent days in places like newtown, connecticut, has to reach
he went on at a time of deficits being front and center to talk about debt and deficits on capitol hill. he was very aggressive defending entitlement such as social security and medicare and medicaid. in this address, the president signals he believes he has a mandate. he will be aggressive about pushing change in the second term. >>shepard: some of the change, can you make the argument it could happen? republicans are coming around on immigration issues. the polls suggest gay rights...
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promises and want to cut the growth of two or should it over the next three years we've got to cut the deficit by four trillion dollars over the next january so long as i'm commander in chief we will sustain the strongest military the world has ever known along with the pledges comes the threat of another devastating war in the middle east for four years president obama pushed to a great extent by israel has war with iran and i will take no options off the tape and i mean what i say. some believe the appointment of chuck hagel as defense secretary who is known to have been against the strike on iran may be a sign that the new obama administration will be less warmongering towards the word but two of the country's leading middle east experts orange convinced vision i would bet a certain amount of money we will hear the words all options are on the table come out of his come out of his mouth in addition to the point that we have the appointment of john brennan at the cia who i think is someone who the israelis are just fine with who will continue what many of the covert programs of course are dr
promises and want to cut the growth of two or should it over the next three years we've got to cut the deficit by four trillion dollars over the next january so long as i'm commander in chief we will sustain the strongest military the world has ever known along with the pledges comes the threat of another devastating war in the middle east for four years president obama pushed to a great extent by israel has war with iran and i will take no options off the tape and i mean what i say. some...
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Jan 14, 2013
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if the issue is deficit reduction, getting our deficits sustainable over time, getting our debt in a sustainable place, then democrats and republicans in congress will have a partner with me. we can achieve that and we can achieve it fairly quickly. we know what the numbers are, we know what needs to be done. we know what a balanced approach would take, and we've already done probably more than half of the deficit reduction we need to stabilize the debt and the deficit. there's probably been more pain and drama in getting there than we needed. and so finishing the job shouldn't be that difficult, if everybody comes to the conversation with an open mind and if there's some things like paying our bills should not be out of bounds. i'll take one last question. >> mr. president, i would like to ask you, now that you've reached the end of your first term, starting your second, about a couple of criticisms. one that's long-standing, another more recent. the long-standing one seems to become a truism of sorts, that you and your staff are too insular, that you don't socialize enough. and the
if the issue is deficit reduction, getting our deficits sustainable over time, getting our debt in a sustainable place, then democrats and republicans in congress will have a partner with me. we can achieve that and we can achieve it fairly quickly. we know what the numbers are, we know what needs to be done. we know what a balanced approach would take, and we've already done probably more than half of the deficit reduction we need to stabilize the debt and the deficit. there's probably been...
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Jan 15, 2013
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on the newshour tonight, we'll examine what the president said about tackling the government deficit and reducing gun violence. >> brown: then, we turn to the west african nation of mali, where french troops have launched air strikes on islamic militants. three jihaddist groups now deemed a clear and present danger to the capital and beyond, a threat to africa and europe. >> woodruff: margaret warner has the story of the suicide of a young internet wizard who was facing federal charges for hacking and distributing online data he thought should be made public. >> brown: ray suarez updates the changes in cuba, where travel restrictions were eased today for citizens hoping to come and go. >> it is still one of the most repressive places in terms of its human rights record but we welcome any liberalization. we hope that will turn out to be one such. >> woodruff: and with rehearsals already under way for next week's inaugural ceremonies, we examine the new rules for raising money for the festivities. >> brown: that's all ahead on tonight's newshour. >> major funding for the pbs newshour h
on the newshour tonight, we'll examine what the president said about tackling the government deficit and reducing gun violence. >> brown: then, we turn to the west african nation of mali, where french troops have launched air strikes on islamic militants. three jihaddist groups now deemed a clear and present danger to the capital and beyond, a threat to africa and europe. >> woodruff: margaret warner has the story of the suicide of a young internet wizard who was facing federal...
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did you sense there was a deficit of trust between, say, you and the president early on? in afghanistan? >> if you think of any complex endeavor that you're a part of, and you're going to do it with a team of people, if you don't trust them at the outset, you're going to have to develop trust very quickly. >> and he never chose you in this case. do you think that's the issue? >> i think he was involved. i was chosen by secretary gates, and clearly approved by the president. so i wases his commander. i replaced general mckiran in june of 2010. i think, though, there are a number of things. i think people underestimate the difference between the cultures of the civilian culture and military culture. it's not an opposition. they are just different. so they use different words, different backgrounds. they have a different understanding sometimes of history. plus a new administration comes in, any new administration, doesn't matter which party. and they've got to form a team and they're trying to internally form a team and also trying to form a team with people like dod. i wan
did you sense there was a deficit of trust between, say, you and the president early on? in afghanistan? >> if you think of any complex endeavor that you're a part of, and you're going to do it with a team of people, if you don't trust them at the outset, you're going to have to develop trust very quickly. >> and he never chose you in this case. do you think that's the issue? >> i think he was involved. i was chosen by secretary gates, and clearly approved by the president. so...
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Jan 14, 2013
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most republicans have insisted that with the government facing another trillion dollar deficit this year, any increase in borrowing authority must be tied to cuts in spending. the president flatly disagreed. >> i want to be clear about this. the debt ceiling is not a question of authorizing more spending. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they've already racked up. >> brown: the 2011 stand-off between the president and republicans over the debt ceiling led the nation to the bryning of national default. standard and poors even lowered its rating on u.s. government bonds. today, president obama said any repeat performance would be, quote, irresponsible. >> if the goal is to make sure that we are being responsible about our debt and our deficit, if that's the conversation we're having, i'm happy to have that conversation. what i will not do is to have that negotiation with a gun at the head of the american people. >> brown: at the sa
most republicans have insisted that with the government facing another trillion dollar deficit this year, any increase in borrowing authority must be tied to cuts in spending. the president flatly disagreed. >> i want to be clear about this. the debt ceiling is not a question of authorizing more spending. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay...
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Jan 14, 2013
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governor jerry brown saying he will have balanced budget after years of massive deficit. but is it real? probably not, say budget expert. they say that december money was probably a one-off tied to the fiscal cliff. the wealthy taking gains in december to avoid higher tax rates in 2013. revenues from the new california tax they say won't really kick in until this quarter or later in 2013 as brad williams a california budget expert told me, quote, we suspect the added revenues were related to the federal tax changes rather than the new state tax rates. now it all shows that california is more dependent than ever on the wealthy. the top 1% of earners, remember they pay up to half of the state's total income taxes but revenues from the rich are now harder than ever to predict. back to you guys. >> thank you, robert. let's go to michelle ka brumich >> you will have a lot more cartoons available on the kid section only and also the exclusive video streamers of the new seasons of dallas. as you can see, getting a big texas more with more than 2%. back to you, tyler. >> thank yo
governor jerry brown saying he will have balanced budget after years of massive deficit. but is it real? probably not, say budget expert. they say that december money was probably a one-off tied to the fiscal cliff. the wealthy taking gains in december to avoid higher tax rates in 2013. revenues from the new california tax they say won't really kick in until this quarter or later in 2013 as brad williams a california budget expert told me, quote, we suspect the added revenues were related to...
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we have a training deficit in this country. we need to combine training programs and do a better job. are we going to hurt that effort? that's what's at stake here when the republicans say, just cut regardless. they had no reason to remember yesterday to cut all discretionary notary public defense discretionary programs, and i think sadly a hundred and some republicans, i think, 50 voted for willie-nilly across the board. doesn't matter what it is. that's not the way we proceed. >> host: was this the amendment to the sandy relief bill? >> guest: it was. >> host: and it failed, 70 republicans joined about 188 democrats to beat back that amendment put forth. on the tax side of the ledger, deductions and loopholes is what folks are talking about. when you say "balanced approach qtle, spending cuts, and deductions and loopholes and things like that. what are the big ones that would bring in the most revenue? >> guest: well, we've talked about the itemized deductions and they include mortgage interests, charitable contributions, ect
we have a training deficit in this country. we need to combine training programs and do a better job. are we going to hurt that effort? that's what's at stake here when the republicans say, just cut regardless. they had no reason to remember yesterday to cut all discretionary notary public defense discretionary programs, and i think sadly a hundred and some republicans, i think, 50 voted for willie-nilly across the board. doesn't matter what it is. that's not the way we proceed. >> host:...
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Jan 15, 2013
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consider we have deficits of a trillion dollars plus. that is not an easy task even for those of us at the cato institute you want a dramatically smaller federal government. it does not mean default. the federal government is collecting ten times as much revenue as needed to pay interest on the debt. gerri: to that point, legislation that would force the treasury to prioritize spending in deciding what bills to pay. the treasury is getting money in every single day. tax dollars don't just come in on april 15th. they come in all the time. >> and the president will be forced to do what you and i and every other american have to do and that is prioritize expenses. if we would not default, prioritize that which must be paid first and then make tough choices as to what is necessary and proper for our government to be spending. that is what we should be doing every day and is, quite frankly, why this president has failed to lead because he just does not believe it. he believes there is no end, and at the end of his term will be somebody else's
consider we have deficits of a trillion dollars plus. that is not an easy task even for those of us at the cato institute you want a dramatically smaller federal government. it does not mean default. the federal government is collecting ten times as much revenue as needed to pay interest on the debt. gerri: to that point, legislation that would force the treasury to prioritize spending in deciding what bills to pay. the treasury is getting money in every single day. tax dollars don't just come...
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Jan 14, 2013
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we'd be looking at deficits. >> $6 billion to $8 billion. >> yes. basically what we have in this budget proposal, what the governor's put forth is essentially $4.1 billion more just to k-12 and higher education. breaks down roughly to about $1 billion to higher ed and $2.7 billion more going in in this forthcoming budget year for k-12. that money and the money that has been, has shored up this year's figures would be gone. it would not be there. and we'd be at the historic low spending that we have had for years. frankly, you know, he's contemplating having $2,700 more state funding per student by 2016-2017. we've been on the decline for that for years. we're somewhere down around 4 44t9th in per student state spending. this is going to lift us out of the pit. >> it has potential. people are looking the at this potential and say this could be the real deal but we have to wait to see the real numbers. >> exactly. >> it has been praised by a lot of people. >> from both sides of the aisle. >> both sides. the good news there, there's more good news, rig
we'd be looking at deficits. >> $6 billion to $8 billion. >> yes. basically what we have in this budget proposal, what the governor's put forth is essentially $4.1 billion more just to k-12 and higher education. breaks down roughly to about $1 billion to higher ed and $2.7 billion more going in in this forthcoming budget year for k-12. that money and the money that has been, has shored up this year's figures would be gone. it would not be there. and we'd be at the historic low...
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Jan 18, 2013
01/13
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anchoring that would actually indicate the determination to change the debt trajectory, reduce the deficit. >> lagarde gave her view on thursday. she supported a 2% inflation target which abe asked the bank of japan to set. she said it's a good idea if the central bank can maintain its independence. more business news next hour. here is a check on markets once again. >>> japanese prime minister has conveyed his concern. the two leaders met in the thai capital of bangkok. abe touched on the issue of the senkaku islands in the east china sea. the islands are controlled by japan but claimed by china and taiwan. he said chinese ships repeatedly violated the waters around the island and the country's plane entered japanese air space last month. he say it's crucial to deal with the issues in accordance to law. she offered her understanding for japan's position. she said thailand will play a constructive role in improving relations with relevant nations. >>> diplomats have agreed to urge the un security council to punish north korea for its latest mission law firm. japan's lead envoy in the six-p
anchoring that would actually indicate the determination to change the debt trajectory, reduce the deficit. >> lagarde gave her view on thursday. she supported a 2% inflation target which abe asked the bank of japan to set. she said it's a good idea if the central bank can maintain its independence. more business news next hour. here is a check on markets once again. >>> japanese prime minister has conveyed his concern. the two leaders met in the thai capital of bangkok. abe...
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Jan 19, 2013
01/13
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deficit reduction is really good for us. we support the simpson-bowles. it hurts everyone. it shows sacrifice is painful, even for us. he needs stability in the finances of our country. everyone needs to stand up on both sides, republicans and democrats. those are the big issues for us. there is another one that affects innovation. lawyers. from the smallest art to the biggest companies, we need more certainty. dúdo not violate patents and do not peak -- do not put people out of work. dúthere needs to be some certaiy in the system. >> do a lot of members of congresseú -- what do you want them to leave with? >>dúdú we try to reach as many officials as possible. certainly member members of the congressional staff, people from the highway administration, we want people to come here and see the real world. you cannot learn in washington word dealing people who ask are given information. dúshe said, you have to come he. let me tell you, the rules are so tough. they are working the whole time. every major tech company is here. we have 3500 people coming here. outside the co
deficit reduction is really good for us. we support the simpson-bowles. it hurts everyone. it shows sacrifice is painful, even for us. he needs stability in the finances of our country. everyone needs to stand up on both sides, republicans and democrats. those are the big issues for us. there is another one that affects innovation. lawyers. from the smallest art to the biggest companies, we need more certainty. dúdo not violate patents and do not peak -- do not put people out of work. dúthere...
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Jan 14, 2013
01/13
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the fact is though we can't finish the job of deficit reduction through spending cuts alone. the cuts we've already made to priorities other than medicare medicaid, social security and defense, mean that we spend on everything from education to public safety less as a share of our economy than has been true for a generation, and that's not a recipe for growth. so, we've got to do more both to stabilize our finances over the medium and long term but also spur more growth in the short term. now, i've said i'm open to making modest adjustments to programs like medicare to protect them for future generations, and i've also said that we need more revenue through tax reform by closing loopholes in our tax code for the wealthiest americans. if we combine a balanced package of savings from spending on health care and revenues from closing loopholes, we can solve the deficit issue without sacrificing our investments in things like education that are going to help us grow. turns out, the american people agree with me. they listened to an entire year's debate over this issue and they ma
the fact is though we can't finish the job of deficit reduction through spending cuts alone. the cuts we've already made to priorities other than medicare medicaid, social security and defense, mean that we spend on everything from education to public safety less as a share of our economy than has been true for a generation, and that's not a recipe for growth. so, we've got to do more both to stabilize our finances over the medium and long term but also spur more growth in the short term. now,...
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Jan 16, 2013
01/13
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KQED
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is the deficit gone completely at this point? >> the budget is fixed. i inherited a $27 billion deficit. that's what it was two years ago. that's gone. this budget will be balanced. now is it safe from any contingency? no, the world is changing and turbulent. is it going to get worse? then we'll get less money. number two, the federal government often blocks budget reduction that we make in the social services. sometimes we win. sometimes we lose. number 3 we're going to be part of the health care act, president obama's health care plan by expanding our medi-cal program to low-income families. he is promising 100% of the co cost. now, what if, because of the cliff negotiations and the debt, maybe they'll renege on that. >> reporter: you're being kind of careful here. >> what i'm saying is that people need to understand that a budget is like a piggy bank. the money is in there. no, the money comes in every sniesm day and the spending goes out every day. we are in a position for the first time in 15 years where we can say this year's budget will be balanc
is the deficit gone completely at this point? >> the budget is fixed. i inherited a $27 billion deficit. that's what it was two years ago. that's gone. this budget will be balanced. now is it safe from any contingency? no, the world is changing and turbulent. is it going to get worse? then we'll get less money. number two, the federal government often blocks budget reduction that we make in the social services. sometimes we win. sometimes we lose. number 3 we're going to be part of the...
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Jan 15, 2013
01/13
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he doesn't care about deficits. he's not going to deal on this. >> you know, a couple of times during the news conference, i was interested in this. president obama said to congress, go ahead, give me the power and i'll issue more debt. that's really what he wants. he wants the power to issue unlimited debt so he can have unlimited spending and eventually he's going to get around to unlimited tax hikes. >> well, to be clear, as you know, when we talk about the debt, the president doesn't get to decide, you know, how much we're spending that's something that rests with congress. but in terms of what kate was saying with respect to, you know, him wanting to not really offer any cuts he's incurred the wrath of his party by offering chain cpi to social security. that's a reindexing of the cost of living index, revising down how much elderly people are getting. and he talk about potential fixes to medicare, potentially raising the age. it is not true that he's not willing to do that. i'll say there are a lot of people on
he doesn't care about deficits. he's not going to deal on this. >> you know, a couple of times during the news conference, i was interested in this. president obama said to congress, go ahead, give me the power and i'll issue more debt. that's really what he wants. he wants the power to issue unlimited debt so he can have unlimited spending and eventually he's going to get around to unlimited tax hikes. >> well, to be clear, as you know, when we talk about the debt, the president...
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Jan 15, 2013
01/13
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may have it on an incremental basis, one, two o three months and using that process to achieve more deficit reduction. >> former speaker of the house and republican presidential candidate newt gingrich. good morning mr. speaker. >> it's good to be with you. >> good to be with you. you say fighting over the debt ceiling is a bad idea for congressional republicans. why? >> because in the end it's a threat they can't sustain. no one is going to default. no one is going to allow the united states to not pay its bills. no one is going to accept the economic costs. it rallies the entire business community to the president's side and the fact is republicans have two much bet ear renas to fight over spending they have a continuing resolution which funds government which comes up at the end of march and they have the sequester, which automatically cuts spending unless it's dealt with. those two fronts they can fight and they have much less resistance from the average american, and it's much harder for the president to oppose them. >> speaker boehner said yesterday that the american people do not sup
may have it on an incremental basis, one, two o three months and using that process to achieve more deficit reduction. >> former speaker of the house and republican presidential candidate newt gingrich. good morning mr. speaker. >> it's good to be with you. >> good to be with you. you say fighting over the debt ceiling is a bad idea for congressional republicans. why? >> because in the end it's a threat they can't sustain. no one is going to default. no one is going to...
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Jan 16, 2013
01/13
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you cannot have trillion-dollar deficits every year. >> the pain is going to be unbelievable. >> if liberalism does not work and it doesn't, it will be rejected. and the conservatives will find their leader. they always do. >> bill: i'm not disagreeing that will happen down the road but i don't want a catastrophe before it happens. and i think that's where we are headed. >> i agree with you on that. >> would've. charles thank you. in a moment al qaeda tries to take over a country in africa and the french are trying to stop it will the u.s.a. join the fight. factor tip of the day, do not fool around with mother nature. we're coming right back. >> bill: back of the book segment tonight. the african country mali a is back water. poor perfect place for al qaeda to take root. now it seems that islamic militants may seize control of mali. standing in the way the french who controlled the country at one time. french armed forces are fighting al qaeda but the u.s.a. is standing back. >> there is no consideration of putting american boots on the ground at this time. we have commended the french for thi
you cannot have trillion-dollar deficits every year. >> the pain is going to be unbelievable. >> if liberalism does not work and it doesn't, it will be rejected. and the conservatives will find their leader. they always do. >> bill: i'm not disagreeing that will happen down the road but i don't want a catastrophe before it happens. and i think that's where we are headed. >> i agree with you on that. >> would've. charles thank you. in a moment al qaeda tries to take...
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Jan 20, 2013
01/13
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the deficit. unemployment. economic growth. we are not having an intelligent debate about solving those. we will not hear the president talk intelligently about them. i hope i am wrong. >> do you think politicians think americans are too stupid to know what going on? >> yes. ross ten -- rostenskowsky went to prison, and so does duke cunningham. >> i disagree respectfully with john and i would say the american people are disappointed because they expect more and they know they can get more. there you are been senators who have risen above and we are not seeing people who put the people's business ahead of their political interests. partisanship is standing in the way of solving problems which is why we have talked. >> a perfect example is the simpson-bowles debt reduction decision, both had a good plan, ignored bit establishment by both parties, the president appointed them and he will not talk about it and the republicans who sponsored it do not want to talk about it but it is the one route to solving some of the main problems.
the deficit. unemployment. economic growth. we are not having an intelligent debate about solving those. we will not hear the president talk intelligently about them. i hope i am wrong. >> do you think politicians think americans are too stupid to know what going on? >> yes. ross ten -- rostenskowsky went to prison, and so does duke cunningham. >> i disagree respectfully with john and i would say the american people are disappointed because they expect more and they know they...
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Jan 15, 2013
01/13
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would surplus at sometimes but ordinarily deficits were small and manageable. what's different today we're not necessarily talking about funding or not borrowing for disaster, we're borrowing for everything else and that puts us in this new and frankly uncomfortable position. if we had taken care of our underlying financial and fiscal needs and paid for the operation of this government without borrowing huge sums of money we wouldn't have to have this conversation. we've undermined our own ability for our own people. imagine the united states of america being in the circumstance it is today we have to ask other countries to lend us money so we can take care of our own. that's an embarrassment to me. i'm not happy to be in this position. it's not because of what happened in sandy, it's because of what happened before we got to sandy. >> congressman mick mulvaney nice to talk to you. makes an excellent point at the same time. if you are a person affected by sandy many folks in our state of new jersey you hear that, this is closing the barn door after the horse ha
would surplus at sometimes but ordinarily deficits were small and manageable. what's different today we're not necessarily talking about funding or not borrowing for disaster, we're borrowing for everything else and that puts us in this new and frankly uncomfortable position. if we had taken care of our underlying financial and fiscal needs and paid for the operation of this government without borrowing huge sums of money we wouldn't have to have this conversation. we've undermined our own...
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Jan 15, 2013
01/13
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he said trimming the budget deficit should be a different discussion separate from the debt ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills, and we are not a deadbeat nation. >> clearly house speaker john boehner thinks differently. he responded by saying, quote, the american people do not support raising the debt ceiling without reducing government spending at the same time. >>> these pens are designed to be used only by one person, but an investigation discovered that many of them were used on multiple people. >>> are you in hawaii or going there anytime soon? surfers, beware. check out this video. it's a real-life jauss. two sharks were swimming dangerously close to the show. can you believe it? look at that. you could wade in and be bitten, eaten. last year there were a total of 11 shark attacks in hawaii. >> that's what i call dangerously close. >> oh, my goodness. >> so some people in the southeast waking up to the dual danger of flooding and ice. alexandra steele in the weather center. good morning. >
he said trimming the budget deficit should be a different discussion separate from the debt ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills, and we are not a deadbeat nation. >> clearly house speaker john boehner thinks differently. he responded by saying, quote, the american people do not support raising the debt ceiling without reducing government spending at the same time. >>> these pens are...
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Jan 13, 2013
01/13
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the problem is he is fronting for policies that are not dealing with the debt or the deficit. >> another gold man sacks guy who made a lot of money while the company was being raped. the real problem with lew, he represents the president's worst instincts, he scuttled the deal in 2011 by the introduction of more taxes and he says no, and this is obama on steroids to the left. he is pushing the country in a place that he doesn't have a mandate for but high has no opposition to stop. >> let me say one thing, the shame of these picks is they small. they are inside the beltway, they are small, they are political hacks, where the president wanted to be a transformational president. he has been re-elected. not many presidents in history are two term presidents and he can be a successful president if he does something great. the great thing he could do for a liberal democrat, is save the social safety net from financial collapse. he had the chance to do it and he still has a chance. >> others would have brought some imagination. the opposite of reagan. >> gentleman, hang in here we will come ba
the problem is he is fronting for policies that are not dealing with the debt or the deficit. >> another gold man sacks guy who made a lot of money while the company was being raped. the real problem with lew, he represents the president's worst instincts, he scuttled the deal in 2011 by the introduction of more taxes and he says no, and this is obama on steroids to the left. he is pushing the country in a place that he doesn't have a mandate for but high has no opposition to stop....
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Jan 16, 2013
01/13
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you cannot have trillion-dollar deficits every year. >> the pain is going to be unbelievable. >> if liberalism does not work and it doesn't, it will be rejected. and the conservatives will find their leader. they always do. >> bill: i'm not disagreeing that will happen down the road but i don't want a catastrophe before it happens. and i think that's where we are headed. >> i agree with you on that. >> would've. charles thank you. in a moment al qaeda tries to take over a country in africa and the french are trying to stop it will the u.s.a. join the fight. factor tip of the day, do not fool around with mother nature. we're coming right back. for ye. both of us actually. our pharmacist recommended it. and that makes me feel pretty good about it. and then i heard about a study looking at multivitamins and the long term health benefits. and what do you know? they used centrum silver in the study. makes me feel even better, that's what i take. sorry, we take. [ male announcer ] centrum. the most recommended. most preferred. most studied. centrum, always your most complete. >> bill: back of the bo
you cannot have trillion-dollar deficits every year. >> the pain is going to be unbelievable. >> if liberalism does not work and it doesn't, it will be rejected. and the conservatives will find their leader. they always do. >> bill: i'm not disagreeing that will happen down the road but i don't want a catastrophe before it happens. and i think that's where we are headed. >> i agree with you on that. >> would've. charles thank you. in a moment al qaeda tries to take...